HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Sunday Evening Observations
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At any rate, regarding SPQ, are you aware that they only hold 27.5% of most their claims? You suggest that SPQ should be trading at at around $0.55/share. If so, that would put the value of the property they hold (13,500 ha property package shared 50:50 by Spider and KWG, who in turn have optioned 55% to UC Resources Ltd) at about 480 million. That's a little pricey don't you think?

Regards,

B, 

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